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Croatia Car Insurance Market Research Report by Product (Third-Party Liability Insurance, Comprehensive Coverage, Partial Coverage, Extended Warranty Coverage, Gap Insurance, SMART Insurance, Car Key Insurance, Roadside Assistance Cover, and Others), by Car Body Type (Hatchback, Sedan, SUV, Crossover, Coupe, Wagon, and Others), by Vehicle Category (Electric Vehicles, and ICE Vehicles), by Vehicle Age (Less than 2 years, From 2 to 5 years, From 5 to 10 years, and From 10 to 20 years), by Application (Personal, and Commercial) Forecast to 2032
Market Report I 2025-01-14 I 118 Pages I Market Research Future
Croatia Car Insurance Market Research Report by Product (Third-Party Liability Insurance, Comprehensive Coverage, Partial Coverage, Extended Warranty Coverage, Gap Insurance, SMART Insurance, Car Key Insurance, Roadside Assistance Cover, and Others), by Car Body Type (Hatchback, Sedan, SUV, Crossover, Coupe, Wagon, and Others), by Vehicle Category (Electric Vehicles, and ICE Vehicles), by Vehicle Age (Less than 2 years, From 2 to 5 years, From 5 to 10 years, and From 10 to 20 years), by Application (Personal, and Commercial) Forecast to 2032
Market Overview
The Croatian car insurance market is expected to experience substantial growth during the review period, with a compound annual growth rate (CAGR) of 4.70%. It is anticipated that the market will attain a value of USD 1,346.31 million by the conclusion of the forecast period (2024-2032), with an estimated value of USD 901.60 million in 2023.
The auto insurance market in Croatia is gradually expanding because of the following factors: the changing consumer trends, the increasing trends in car ownership, and the changes in the legal environment. The Croatian government has mandated third-party liability insurance, resulting in a substantial market base. This is because the regulatory environment promotes competition among insurance firms, which are incentivized to develop new products and services. Currently, market participants are striving to diversify their portfolios to offer comprehensive coverage for a variety of risks, including theft, vandalism, and calamities. Additionally, insurers are increasingly emphasizing the development of user-friendly internet portals and applications, which facilitate the management of customer claims. This is due to the growing emphasis on digitalization. The penetration rate is improving as a result of the increasing awareness of the benefits of car insurance among consumers. The market is also undergoing a transition to more specific and digital insurance policies as a result of the advancements in data analysis and telemetry. As a result, insurers can establish premiums that are appropriate for policyholders based on their driving habits and risk.
In Croatia, vehicle proprietors are required to maintain automobile insurance in the event of theft, accidents, or vehicle damage.
Market Segmentation
The Croatia Car Insurance market has been segmented into the following categories: Third-Party Liability Insurance, Comprehensive Coverage, Partial Coverage, Extended Warranty Coverage, Gap Insurance, SMART Insurance, Car Key Insurance, Roadside Assistance Cover, and Others. This segmentation is based on product.
Electric Vehicles and ICE Vehicles are the two categories into which the Croatian Car Insurance market has been divided based on vehicle category.
The Croatian car insurance market has been divided into the following categories: Hatchback, Sedan, SUV, Crossover, Coupe, Wagon, and Others. This organization is based on the body form of the vehicle.
The market has been segmented into the following categories: Less than 2 years [vehicle age], From two to five years, from five to ten years, and from ten to twenty years.
The Croatia Car Insurance market has been divided into Personal and Commercial segments based on application.
The market has been divided into Personal and Commercial segments based on the Distribution Channel.
Major Players
Some of the main players in the Croatian car insurance market include Croatia osiguranje dd, Allianz, Triglav Insurance, Wiener Osiguranje Vienna Insurance Group, Generali Group, Adriatic Osiguranje d.d., UNIQA Osiguranje d.d, HanseMerkur Reiseversicherung AG, and Euroherc Osiguranje d.d.
TABLE OF CONTENTS
1 Executive Summary 17
2 MARKET INTRODUCTION 19
2.1 DEFINITION 19
2.2 SCOPE OF THE STUDY 19
2.3 Research Objective 19
2.4 MARKET STRUCTURE 20
3 Research Methodology 21
3.1 Overview 21
3.2 DATA flow 22
3.2.1 Data Mining Process 23
3.3 Purchased Database 24
3.4 Secondary Sources: 25
3.4.1 Secondary Research Data Flow 26
3.5 Primary Research 27
3.5.1 Primary Research DATA FLOW: 28
3.5.2 Primary Research: Number of Interviews conducted 29
3.6 Approaches for Market Size Estimation 30
3.6.1 Consumption & Net Trade Approach 30
3.6.2 Revenue Analysis Approach 30
3.7 Data forecasting 31
3.7.1 Data Forecasting Technique 31
3.8 Data modeling 32
3.8.1 microeconomic factor analysis: 32
3.8.2 Data modeling 34
3.9 Teams and Analyst Contribution 36
4 Market Dynamics 38
4.1 Introduction 38
4.2 Drivers 39
4.2.1 Tourism and Rental Car Insurance 39
4.2.2 Increasing EV Sales 39
4.2.3 Technological Advancements 39
4.2.4 Economic Growth 40
4.2.5 Rising awareness 40
4.3 Restraints 42
4.3.1 High Insurance Premiums 42
4.3.2 Fraud and Claims Issues 42
4.3.3 Regulatory Challenges 42
4.4 Opportunity 43
4.4.1 Customer-Centric Solutions 43
4.4.2 Telematics-Based Insurance 43
4.4.3 Digital Transformation 44
4.4.4 Enhanced Coverage Options 44
4.5 Technology, Market, and Customer Trends 45
4.5.1 A trend towards the usage-based insurance 45
4.5.2 Artificial Intelligence (AI) and Blockchain technology 45
4.5.3 The growing popularity of EVs 45
4.5.4 Personalized pricing 45
4.5.5 Value-added services 46
4.6 Impact analysis of COVID - 19 46
4.6.1 Economic Impact 46
4.6.2 Impact On Overall Automotive 46
4.6.3 Impact On Car insurance market 46
4.6.4 Y-O-Y Growth Analysis 46
5 Market Factor Analysis 48
5.1 Supply Chain Analysis 48
5.1.1 Insurance Providers 48
5.1.2 Independent Agents and Brokers 48
5.1.3 Car Dealers 48
5.1.4 Distribution Channels 48
5.1.5 After-Sales Services 49
5.1.6 End Users 49
5.2 Porter's Five Forces Model 49
5.2.1 Threat of New Entrants 50
5.2.2 Bargaining Power of Suppliers 50
5.2.3 Bargaining Power of Buyers 51
5.2.4 Threat of Substitutes 51
5.2.5 Industry Rivalry 51
5.3 SWOt analysis 51
5.4 PESTEL Analysis 52
5.5 Regulatory Outlook 53
5.6 Mandatory insurance 54
5.7 Regulated & Non-Regulated Products 54
5.8 Insurance Awareness & Perception 55
5.9 Market Attractiveness 56
5.10 Pricing Trends Analysis 58
5.11 Key Buying Criteria Analysis 58
5.12 Market-Specific Behaviors Analysis 59
6 Croatia CAR INSURANCE MARKET, by Product 64
6.1 Overview 64
6.2 Third-Party Liability Insurance 65
6.3 Comprehensive Coverage 65
6.4 Partial Coverage 66
6.5 Extended Warranty Coverage 66
6.6 Gap Insurance 66
6.7 SMART Insurance 66
6.8 Car Key Insurance 66
6.9 Roadside Assistance Cover 67
6.10 Others 67
7 Croatia CAR INSURANCE MARKET, by CAR BODY Type 68
7.1 Overview 68
7.2 Hatchback 69
7.3 Sedan 69
7.4 SUV 69
7.5 Crossover 70
7.6 Coupe 70
7.7 Wagon 70
7.8 Others 70
8 Croatia CAR INSURANCE MARKET, by Vehicle Category 72
8.1 Overview 72
8.2 Electric Vehicles 73
8.3 ICE Vehicles 73
9 Croatia CAR INSURANCE MARKET, by Vehicle Age 75
9.1 Overview 75
9.2 Less than 2 years 76
9.3 From 2 to 5 years 76
9.4 From 5 to 10 years 77
9.5 From 10 to 20 years 77
10 Croatia CAR INSURANCE MARKET, by Application 78
10.1 Overview 78
10.2 personal 79
10.3 Commercial 79
11 Croatia CAR INSURANCE MARKET, by Distribution Channel 80
11.1 Overview 80
11.2 Direct Response 81
11.3 Agents/Brokers 81
11.4 Banks 82
12 Competitive Landscape 84
12.1 Introduction 84
12.2 competition dashboard 85
12.2.1 PRODUCT PORTFOLIO 85
12.2.2 REGIONAL PRESENCE 86
12.2.3 STRATEGIC ALLIANCES 86
12.2.4 INDUSTRY EXPERIENCES 87
12.3 Market Share Analysis, 2023 87
12.4 Who Are The Major Disruptors & Innovators 87
12.5 What Strategies Are Being Adopted By Market Leaders 88
12.6 KEY DEVELOPMENTS & GROWTH STRATEGIES 89
12.6.1 PRODUCT LAUNCH 89
12.6.2 Partnership, collabration and expansion 89
12.6.3 Merger And Acquisition 89
13 Company Profiles 90
13.1 Croatia osiguranje dd 90
13.1.1 COMPANY OVERVIEW 90
13.1.2 PRODUCTS OFFERed 91
13.1.3 KEY DEVELOPMENTS 91
13.1.4 SWOT ANALYSIS 91
13.1.5 Key Strategy 92
13.2 Allianz 93
13.2.1 COMPANY OVERVIEW 93
13.2.2 FINANCIAL OVERVIEW 94
13.2.3 PRODUCTS OFFERed 94
13.2.4 KEY DEVELOPMENTS 95
13.2.5 SWOT ANALYSIS 96
13.2.6 Key Strategy 96
13.3 GENERALI CEE HOLDING B.V 97
13.3.1 COMPANY OVERVIEW 97
13.3.2 PRODUCTS OFFERed 97
13.3.3 KEY DEVELOPMENTS 98
13.3.4 SWOT ANALYSIS 98
13.3.5 Key Strategy 98
13.4 Euroherc Osiguranje d.d 99
13.4.1 COMPANY OVERVIEW 99
13.4.2 PRODUCTS OFFERed 100
13.4.3 KEY DEVELOPMENTS 100
13.4.4 SWOT ANALYSIS 100
13.4.5 Key Strategy 101
13.5 UNIQA osiguranje d.d 102
13.5.1 COMPANY OVERVIEW 102
13.5.2 PRODUCTS OFFERed 103
13.5.3 KEY DEVELOPMENTS 103
13.5.4 SWOT ANALYSIS 103
13.5.5 Key Strategy 104
13.6 Triglav Insurance 105
13.6.1 COMPANY OVERVIEW 105
13.6.2 PRODUCTS OFFERed 106
13.6.3 KEY DEVELOPMENTS 106
13.6.4 SWOT ANALYSIS 106
13.6.5 Key Strategy 107
13.7 Wiener osiguranje Vienna Insurance Group 108
13.7.1 COMPANY OVERVIEW 108
13.7.2 PRODUCTS OFFERed 109
13.7.3 KEY DEVELOPMENTS 109
13.7.4 SWOT ANALYSIS 109
13.7.5 Key Strategy 110
13.8 ADRIATIC osiguranje dd 110
13.8.1 COMPANY OVERVIEW 110
13.8.2 PRODUCTS OFFERed 111
13.8.3 KEY DEVELOPMENTS 111
13.8.4 SWOT ANALYSIS 111
13.8.5 Key Strategy 112
13.9 HanseMerkur Reiseversicherung AG 113
13.9.1 COMPANY OVERVIEW 113
13.9.2 PRODUCTS OFFERed 113
13.9.3 KEY DEVELOPMENTS 113
13.9.4 SWOT ANALYSIS 113
13.9.5 Key Strategy 114
13.10 Armeec Jsc 115
13.10.1 COMPANY OVERVIEW 115
13.10.2 PRODUCTS OFFERed 116
13.10.3 KEY DEVELOPMENTS 116
13.10.4 SWOT ANALYSIS 116
13.10.5 Key Strategy 117
LIST OF TABLES
TABLE 1
QFD MODELING FOR MARKET SHARE ASSESSMENT
34TABLE 2
CROATIA CAR INSURANCE MARKET, BY PRODUCT 2018-2032 (USD MILLION)
64TABLE 3
CROATIA CAR INSURANCE MARKET, BY CAR BODY TYPE 2018-2032 (USD MILLION)
68TABLE 4
CROATIA CAR INSURANCE MARKET, BY VEHICLE CATEGORY 2018-2032 (USD MILLION)
72TABLE 5
CROATIA CAR INSURANCE MARKET, BY VEHICLE AGE 2018-2032 (USD MILLION)
75TABLE 6
CROATIA CAR INSURANCE MARKET, BY APPLICATION 2018-2032 (USD MILLION)
78TABLE 7
CROATIA CAR INSURANCE MARKET, BY DISTRIBUTION CHANNEL 2018-2032 (USD MILLION)
80TABLE 8
PRODUCT LAUNCH
89TABLE 9
PARTNERSHIP, COLLABRATION AND EXPANSION
89TABLE 10
MERGER AND ACQUISITION
89TABLE 11
CROATIA OSIGURANJE DD: PRODUCTS OFFERED
91TABLE 12
ALLIANZ: PRODUCTS OFFERED
94TABLE 13
GENERALI CEE HOLDING B.V: PRODUCTS OFFERED
97TABLE 14
EUROHERC OSIGURANJE D.D.: PRODUCTS OFFERED
100TABLE 15
UNIQA OSIGURANJE D.D.: PRODUCTS OFFERED
103TABLE 16
TRIGLAV INSURANCE: PRODUCTS OFFERED
106TABLE 17
WIENER OSIGURANJE VIENNA INSURANCE GROUP: PRODUCTS OFFERED
109TABLE 18
ADRIATIC OSIGURANJE DD: PRODUCTS OFFERED
111TABLE 19
HANSEMERKUR REISEVERSICHERUNG AG: PRODUCTS OFFERED
113TABLE 20
ARMEEC JSC: PRODUCTS OFFERED
116
LIST OF FIGURES
FIGURE 1
CROATIA CAR INSURANCE MARKET: STRUCTURE
20FIGURE 2
CROATIA CAR INSURANCE MARKET: MARKET GROWTH FACTOR ANALYSIS (2018-2032)
38FIGURE 3
DRIVER IMPACT ANALYSIS (2023-2032)
41FIGURE 4
RESTRAINT IMPACT ANALYSIS (2022-2032)
43FIGURE 5
SUPPLY CHAIN ANALYSIS: CROATIA CAR INSURANCE MARKET
48FIGURE 6
PORTER'S FIVE FORCES MODEL: CROATIA CAR INSURANCE MARKET
50FIGURE 7
CROATIA CAR INSURANCE MARKET, BY PRODUCT, 2023 & 2032 (USD MILLION)
56FIGURE 8
CROATIA CAR INSURANCE MARKET, BY CAR BODY TYPE, 2023 & 2032 (USD MILLION)
57FIGURE 9
CROATIA CAR INSURANCE MARKET, BY VEHICLE CATEGORY, 2023 & 2032 (USD MILLION)
57FIGURE 10
CROATIA CAR INSURANCE MARKET, BY VEHICLE AGE, 2023 & 2032 (USD MILLION)
57FIGURE 11
CROATIA CAR INSURANCE MARKET, BY APPLICATION, 2023 & 2032 (USD MILLION)
58FIGURE 12
CROATIA CAR INSURANCE MARKET, BY DISTRIBUTION CHANNEL, 2023 & 2032 (USD MILLION)
58FIGURE 13
CROATIA CAR INSURANCE MARKET, BY PRODUCT, 2023 & 2032 (USD MILLION)
64FIGURE 14
CROATIA CAR INSURANCE MARKET, BY PRODUCT, 2023 (% SHARE)
65FIGURE 15
CROATIA CAR INSURANCE MARKET, BY CAR BODY TYPE, 2023 & 2032 (USD MILLION)
68FIGURE 16
CROATIA CAR INSURANCE MARKET, BY CAR BODY TYPE, 2023 (% SHARE)
69FIGURE 17
CROATIA CAR INSURANCE MARKET, BY VEHICLE CATEGORY, 2023 & 2032 (USD MILLION)
72FIGURE 18
CROATIA CAR INSURANCE MARKET, BY VEHICLE CATEGORY, 2023 (% SHARE)
73FIGURE 19
CROATIA CAR INSURANCE MARKET, BY VEHICLE AGE, 2023 & 2032 (USD MILLION)
75FIGURE 20
CROATIA CAR INSURANCE MARKET, BY VEHICLE AGE, 2023 (% SHARE)
76FIGURE 21
CROATIA CAR INSURANCE MARKET, BY APPLICATION, 2023 & 2032 (USD MILLION)
78FIGURE 22
CROATIA CAR INSURANCE MARKET, BY APPLICATION, 2023 (% SHARE)
79FIGURE 23
CROATIA CAR INSURANCE MARKET, BY DISTRIBUTION CHANNEL, 2023 & 2032 (USD MILLION)
80FIGURE 24
CROATIA CAR INSURANCE MARKET, BY DISTRIBUTION CHANNEL, 2023 (% SHARE)
81FIGURE 25
COMPETITOR DASHBOARD: CROATIA CAR INSURANCE MARKET
85FIGURE 26
CROATIA CAR INSURANCE MARKET: COMPETITIVE ANALYSIS, 2023
87FIGURE 27
CROATIA OSIGURANJE DD: SWOT ANALYSIS
91FIGURE 28
ALLIANZ: SWOT ANALYSIS
96FIGURE 29
GENERALI CEE HOLDING B.V: SWOT ANALYSIS
98FIGURE 30
EUROHERC OSIGURANJE D.D.: SWOT ANALYSIS
100FIGURE 31
UNIQA OSIGURANJE D.D.: SWOT ANALYSIS
103FIGURE 32
TRIGLAV INSURANCE: SWOT ANALYSIS
106FIGURE 33
WIENER OSIGURANJE VIENNA INSURANCE GROUP: SWOT ANALYSIS
109FIGURE 34
ADRIATIC OSIGURANJE DD: SWOT ANALYSIS
111FIGURE 35
HANSEMERKUR REISEVERSICHERUNG AG: SWOT ANALYSIS
113FIGURE 36
ARMEEC JSC: SWOT ANALYSIS
116
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